High Drug Prices In America

Americans for decades have paid the highest prices for drugs than anywhere else in the world. This has happened even though these same drug manufacturers pay no federal tax (they wrote off all R & D expenses against income and have for many years.) Yet they sell the drugs everywhere else for less than it costs here in America.

Finally, the President has done something about it starting with reproductive drugs meant to help women get pregnant. The drop in price is not small; it is about 73% lower.

This is just the start, and Americans can expect to see lower drug prices on many drugs soon. No one has had the ability or desire to make this happen.

President Trump is fulfilling his promise to reduce drugs prices for all drugs sold in America to the average price sold elsewhere in the world.

This blog is not meant to be a tribute to the President but merely a notification that drugs prices are starting to be reduced and that is a very good thing.

I have personally been writing about this for years and finally someone is doing something about it rather than just talking about it. The rubber is finally meeting the road, and I am very happy about that.

Personally, I pay $4000 a month for medication administered in the doctor’s office. Medicare and my supplement pay for it but the price is just too high, and I am hoping that this drug is in the sites of those in power to make changes.

The Inflation Reduction Act signed by former President Biden is a small step in the right direction however, drug plans deductibles have to be met before the reduced pricing is made available. The $35 rice for the 10 drugs require you meet your plans deductible before getting the reduced pricing.

Drug pricing has a direct effect on insurance premium pricing. There are so many drugs that are overpriced, and the insurance companies negotiate lower prices, but those prices start very high, the lowered price remains high compared to elsewhere in the world.

The President is taking the first step in lowering drug prices in America. I would suggest that he has Congress pass a new law stating that drug prices

must be the average price sold everywhere else in the world. This is not the first time I have mentioned this in a blog. Further, my suggestion would be to place some hefty fines against these drug manufacturers. Meaning no

R & D write off if they violate the agreement. That would put a stop to the problem immediately. Then Americans would pay the average price for a medication that the rest of the world pays.

Consider what I am saying, drug manufacturers develop dugs in America, then take tax write offs so they pay little or no federal income taxes and then sell those drugs in America for more than the average price sold elsewhere in the world. Seems totally unfair to Americans who pay for those drugs for the rest of the world. This practice must stop and I believe the President has taken the first step in that direction.

Getting Congress to make that into a law seems unlikely as Congress gets most of their political contributions from Big Pharma, but I believe the President will make that happen soon. Making America first is the motto of this administration and t5his is a step in the right direction. I hope he succeeds.

Believe this may happen and save Americans many dollars on the cost of medications. It’s about time.

I hope this information is useful and if anyone has questions, please contact me via phone or email and I will respond quickly.

Also, you may want to take a look at Medicare 2025 Information. 2026 Medicare Information coming soon.

The Barend Agency Inc.

Len Barend, Broker

Cell:702-250-2200